FAQs
MC No. 08, s. 2023 - Inclusion of Senior Office Equipment Technician A and B Positions in the List of Positions Under Category II of Civil Service Commission (CSC) Memorandum Circular (MC) No.
What is inventory list BIR? ›
What is the Inventory List? The Inventory List is a compliance requirement for businesses that hold inventory for sale in the Philippines. This list must be prepared and submitted by relevant companies to the BIR on an annual basis.
What is the RMC 57 2015 amendment? ›
57-2015. The RMC amends “Section 2: Prescribed Format and Deadline for Submission” of RMC No. 57-2015 by limiting the submission of the inventory list and prescribed schedules to soft copies instead of previously requiring both hard and soft copies.
What is the memorandum circular 27 2023? ›
27 issued by the Office of the President, declaring work suspension in government offices and classes in public schools at all levels in Metro Manila and in the province of Bulacan on 25 August 2023, the National Archives of the Philippines (NAP) Manila offices suspend its operations tomorrow.
What is the memorandum circular 16 2023? ›
To provide government employees full opportunity to properly observe 06-07 April 2023, regular holidays, and to allow them to travel to and from the different regions in the country, work in government offices on 05 April 2023 is hereby suspended from 12:00 o'clock in the afternoon onwards.
How do I track my inventory for taxes? ›
How Is Inventory Taxed?
- Determine the Cost of Goods Sold (COGS): Calculate the total value of products sold during the year.
- Calculate Ending Inventory: Ending Inventory = Beginning Inventory + Net Purchases – COGS.
- Calculate Inventory Tax: Multiply the Ending Inventory by the county's tax rate.
The Internal Revenue Service (IRS) states that you must account for inventory in any business and that an accrual method of accounting should be used for all purchases and sales of goods. The IRS also states that to determine the value of your inventory you must value the inventory at the beginning and end of the year.
What is inventory in income tax return? ›
Inventory is listed on a company's balance sheet as a current asset, and it acts as a buffer between manufacturing and order fulfilment. On the income statement, when an inventory item is sold, it's carrying cost transfers to the cost of sold goods (COGS) category.
What is a circular memorandum? ›
Memoranda refer to correspondence between headquarters and offices in the field, and between offices in the field. A Memorandum Form is available for the drafting of these messages. Circulars are formal memos that go out to all staff in order to provide information about regulations and policies at the Organization.
What is the memorandum circular 32 2023? ›
The suspension of work in other branches of government, in independent commissions or bodies, and in the private sector is encouraged, so as to afford all Filipino families the full opportunity to celebrate the 31st National Family Week. This Circular shall take effect immediately.
Any employee shall be considered habitually tardy if he incurs tardiness, regardless of the number of minutes, ten (10) times a month for at least two (2) months in a semester or at least two (2) consecutive months during the year.
What is the MC 17 series of 2023? ›
17-2023 or the "Circular") to grant a final extension up to November 6, 2023 for amnesty applications for late and non-filing of general information sheets ("GIS"), annual financial statements ("AFS"), as well as non-compliance with SEC Memorandum Circular No.
